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On the Asymmetry of Global Spillovers : Emerging Markets Versus Advanced Economies

Author

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  • Arezki,Rabah
  • Liu,Yang

Abstract

This paper examines growth spillovers between emerging markets (EMs) and advanced economies (AEs). The empirical results based on a two-block set-up and covering the period 1991 to 2015 are twofold. First, the paper shows that the size of the spillovers running from EMs to AEs is about a fifth of these running from AEs to EMs. Second, results point to spillovers from EMs to AEs having increased over the second half of the sample period. The paper presents suggestive evidence that the (evolving) structure of interdependencies play an important role in explaining the existence of"asymmetrical spillovers"between these similar sized blocks.

Suggested Citation

  • Arezki,Rabah & Liu,Yang, 2018. "On the Asymmetry of Global Spillovers : Emerging Markets Versus Advanced Economies," Policy Research Working Paper Series 8662, The World Bank.
    • Handle: RePEc:wbk:wbrwps:8662
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    File URL: http://documents.worldbank.org/curated/en/378711543854766001/pdf/On-the-Asymmetry-of-Global-Spillovers-Emerging-Markets-Versus-Advanced-Economies.pdf
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    Cited by:

    1. Ruppert, Kilian & Stähler, Nikolai, 2020. "Household savings, capital investments and public policies: What drives the German current account?," Discussion Papers 41/2020, Deutsche Bundesbank.
    2. Ruppert, Kilian & Stähler, Nikolai, 2022. "What drives the German current account? Household savings, capital investments and public policies," Economic Modelling, Elsevier, vol. 108(C).
    3. Agu Osmond Chigozie & Omolade Adeleke, 2022. "Restructuring and Reshaping Africa Oil Exporting Countries Post COVID-19 – A Participatory Development Strategy Approach," Folia Oeconomica Stetinensia, Sciendo, vol. 22(2), pages 1-17, December.

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